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"China has taken steps to improve the development of trade in services, including gradually opening up the finance, education, culture and medical treatment sectors," said Li Guanghui, vice-president of the Chinese Academy of International Trade and Economic Cooperation.

"China is an essential part of our long-term strategy. We are confident in the market's future development," Koay said.

"But we should not forget China remains an attractive market-with a large and skilled labor force, efficient infrastructure and deep integration into global value chains. It is an increasingly attractive market that all producers aim to capture."

"By entering China via Shanghai, we expect to expand quickly in the country and have a good market share," Facco said.

"COVID-19's resurgence is bound to have an economic effect, both as local governments introduce measures to curtail the spread and as consumers change their behavior," Patrick Harker, president of the Philadelphia Federal Reserve Bank, said in a speech to the Wharton Private Equity and Venture Capital Alumni Association.